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Forest Glenn 201 Avian Dr 68 Unit Apartment Building $9,500,000 ($139,706/Unit) 8.08% Cap Rate Vallejo, CA 94591
Investment Highlights
- STELLAR UNIT MIX AND UNIT SIZES
- STRONG RENTAL MARKET FUNDAMENTALS
- NEARBY AMENITIES & EMPLOYERS
- DISTINCTIVE LOCATION
- VALUE-ADD OPPORTUNITY
Executive Summary
Northmarq, as the exclusive listing agent, is proud to present Forest Glenn, a 68-unit value-add apartment community in Vallejo, California. Nestled on approximately 3.7 acres, the property features beautifully landscaped courtyard gardens, oversized floor plans, a gated community, and select units with stunning water views. Originally built in 1965, Forest Glenn comprises 15 residential buildings set within a serene, park-like environment. Offered at $9,500,000 — just $139,706 per unit and $137 per rentable square foot — the property delivers immediate cash flow, with a 8.1% cap rate and a GRM of 5.31, making it a compelling opportunity for value-add investors seeking both strong returns and additional upside potential.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $9,500,000 | Apartment Style | Garden |
| Price Per Unit | $139,706 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.49 AC |
| Cap Rate | 8.08% | Building Size | 69,120 SF |
| Gross Rent Multiplier | 5.31 | Average Occupancy | 85% |
| No. Units | 68 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.23/1,000 SF |
| Zoning | N/Av, Vallejo - Residential | ||
| Price | $9,500,000 |
| Price Per Unit | $139,706 |
| Sale Type | Investment |
| Cap Rate | 8.08% |
| Gross Rent Multiplier | 5.31 |
| No. Units | 68 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.49 AC |
| Building Size | 69,120 SF |
| Average Occupancy | 85% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | N/Av, Vallejo - Residential |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Heating
- Kitchen
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Vinyl Flooring
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Recycling
- Maintenance on site
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $1,775 | 670 |
| 2+1 | 52 | $2,132 | 890 - 1,100 |
| 3+1.5 | 11 | $2,300 | 1,400 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0069-461-010 | Total Assessment | $12,088,801 |
| Land Assessment | $3,945,989 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $8,142,812 | Tax Year | 2025 |
Property Taxes
Parcel Number
0069-461-010
Land Assessment
$3,945,989
Improvements Assessment
$8,142,812
Total Assessment
$12,088,801
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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